Concentrix Corporation $CNXC Shares Sold by UBS Group AG

UBS Group AG lessened its stake in Concentrix Corporation (NASDAQ:CNXC) by 15.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 368,810 shares of the company’s stock after selling 69,837 shares during the period. UBS Group AG’s holdings in Concentrix were worth $15,335,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Hussman Strategic Advisors Inc. bought a new position in Concentrix in the third quarter worth about $1,938,000. Thompson Investment Management Inc. lifted its holdings in Concentrix by 36.9% in the fourth quarter. Thompson Investment Management Inc. now owns 216,154 shares of the company’s stock worth $8,988,000 after acquiring an additional 58,251 shares during the last quarter. Capital Management Corp VA lifted its holdings in Concentrix by 45.0% in the third quarter. Capital Management Corp VA now owns 472,681 shares of the company’s stock worth $21,814,000 after acquiring an additional 146,688 shares during the last quarter. Invenomic Capital Management LP lifted its holdings in Concentrix by 19.7% in the third quarter. Invenomic Capital Management LP now owns 822,345 shares of the company’s stock worth $37,951,000 after acquiring an additional 135,429 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Concentrix by 34.1% in the third quarter. Nordea Investment Management AB now owns 93,062 shares of the company’s stock worth $4,323,000 after acquiring an additional 23,657 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insider Activity at Concentrix

In other Concentrix news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $22.25, for a total value of $133,500,000.00. Following the sale, the insider owned 2,773,667 shares in the company, valued at approximately $61,714,090.75. This trade represents a 68.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andre S. Valentine purchased 2,500 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was purchased at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the purchase, the chief financial officer directly owned 89,066 shares of the company’s stock, valued at $2,489,394.70. This trade represents a 2.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barrington Research cut their target price on shares of Concentrix from $62.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Canaccord Genuity Group cut their target price on shares of Concentrix from $80.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Robert W. Baird cut their target price on shares of Concentrix from $52.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Wall Street Zen cut shares of Concentrix from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Concentrix in a report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.50.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $23.25 on Thursday. The firm’s 50 day moving average is $28.39 and its two-hundred day moving average is $34.74. Concentrix Corporation has a 52 week low of $22.05 and a 52 week high of $62.14. The firm has a market capitalization of $1.42 billion, a P/E ratio of -1.08, a PEG ratio of 0.29 and a beta of 0.37. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.43.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Tuesday, March 24th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.04). Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business posted $2.79 EPS. Concentrix’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts anticipate that Concentrix Corporation will post 10.42 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th were paid a $0.36 dividend. The ex-dividend date was Friday, April 24th. This represents a $1.44 annualized dividend and a dividend yield of 6.2%. Concentrix’s dividend payout ratio (DPR) is presently -6.68%.

About Concentrix

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.